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With utility costs on the rise and a growing push toward greener living, now might be the perfect time to consider making energy-efficient improvements to your home. And thanks to the recently passed One Big Beautiful Bill Act, there’s still time to take advantage of valuable federal tax credits up to $3,200 in 2025. But […]

You may expect your tax refund to be paid in full once the IRS processes your tax return. However, there’s a catch: the Treasury Department can deduct certain debts from your refund before you see a cent. This process is called a tax refund offset, and it can leave you wondering where your full refund

If your friend recently moved to the U.S. from Greece, they will encounter a few unique tax rules and responsibilities that differ from what they were accustomed to in Greece. Here’s a high-level overview of eight key tax considerations your friend needs to be aware of as they navigate their new life in the U.S.

If you’re thinking about relocating to a new state to lower your tax bill, you’re not alone. With more professionals working remotely and retirees seeking better financial conditions, the tax impact of your state of residence has become a hot topic. While it may seem like moving to a state with no income tax is

If you’re making quarterly estimated tax payments, missing a deadline can be expensive. The IRS currently charges a 7 percent penalty for underpayments and since penalties are not tax-deductible, the real financial impact can feel closer to 11 percent. However, there’s good news. With smart planning, it’s often possible to reduce or even eliminate these

The U.S. operates under a “pay as you go” tax system, meaning income taxes must be paid to the IRS throughout the year as income is earned. These payments can be made through withholding, estimated tax payments, or a combination of both. Failing to pay enough tax during the year can result in costly penalties,

If you’re a business owner with no employees and prefer the long-term benefits of Roth-style retirement savings, the Mega Backdoor Roth strategy may be one of the most powerful tools available to you. It allows for contributions far beyond the limits of a traditional Roth IRA, potentially up to $70,000 in 2025, or $77,500 if

The tax code has a way of surfacing in places you might not expect especially when it comes to hiring help around the house. One commonly overlooked area is the nanny tax, which can apply even in temporary or informal household arrangements. If you’ve hired a nanny, caregiver, housekeeper, or similar household worker even on

If you own a vacation home or second property that you rent out, even part-time, there is a recent tax court case worth your attention. It serves as a clear reminder of how important proper documentation and proactive planning are when it comes to rental property deductions. Let’s review what happened and how you can

If you formed an S corporation to save on self-employment taxes, your salary is a crucial part of that strategy. But how do you know if your S corporation salary is correct? If your salary is: Too low – you could face penalties and back taxes.  Too high – you might be overpaying in payroll